Climate-Neutral Economy Is the Only Way

"Vision 2050 – Time to Transform outlines how systemic change is needed and sets out a new framework, with nine transformation pathways,” WBCSD director Julian Hill-Landolt said at BCSDH’s annual Business Lunch. The professional program of the event focused on accelerating systemic change and transition to a climate-neutral economy.

Global average temperatures are already 1.2°C above the pre-industrial level. A substantial acceleration of ambition and action is needed to meet the Paris Agreement targets. What does it take to make the same rate of change in other areas, similar to the rapid digital switchover generated by Covid? What can the business sector do? Vision 2050: Time to Transform transition schedule and business sector’s net zero commitments were presented at the business lunch of the Business Council for Sustainable Development in Hungary (BCSDH).

WBCSD has laid out the systems transformations in Vision 2050: Time to Transform. To move to a world where more than 9 billion people, will all live well, within planetary boundaries, requires companies – like yours – to set ambitious net-zero and nature positive targets and more importantly put in place operating plans to deliver these targets and create transformational collaboration across value chains.

"Going beyond business as usual is essential for accelerating the transformation. Business leaders need to adopt three mindset shifts or need to shift their mindsets in 3 areas: developing a form of capitalism that rewards true value creation; focusing on building long-term resilience; and engaging in a regenerative. The business sector takes a leading role, but it must work with academics, regulators and investors, developers and consumers to promote a system transformation together. This collaboration at unprecedented levels is the only way to deliver the rapid change needed to ensure that all people can live well within planetary boundaries by 2050,” Julian Hill-Landolt said.

Climate and net zero commitments
This year is the year of action. Countries must commit to net zero emissions by 2050. Ahead of the COP26 in Glasgow, governments will have to submit much more ambitious national climate plans. Companies must do the same if they want to protect people, themselves, and the economy from the catastrophic consequences of climate change. No longer can ‘low-carbon’ be the sole objective: climate neutrality must be achieved urgently through with new technological solutions and rapid changes in consumption patterns at all levels, according to BCSDH Presdient Attila Chikán Jr. His organization aims to generate changes in models and business solutions in Hungary that have a real impact on climate change and can generate real responses to domestic challenges due to their take up by other companies. He added that, „committed leaders and changemakers are vital to making sustainable economic activity more strategic. The mission of BCSDH is to support its member companies to be active agents in shaping the necessary changes”.

The event also featured a CEO roundtable discussion themed 'How to lead the Transformation?' and the announcement of the ‘For a Sustainable Future’ award recognizing extraordinary achievements of leaders and companies on advancing Sustainable Development Goals (SDG-s), and the outstanding actions of the pandemic were recognised in four categories this year. The graduates of this year’s “Future Leaders” Talent Program received their diplomas in the same ceremonial setting.